Partnerships, agreements, contracts, and collaborations accounted for the largest share of the overall growth strategy mapped from 2015–2018. Some of the leading players who adopted this strategy are Pfizer, Inc. (US), GlaxoSmithKline, plc (UK), Sanofi Pasteur SA (France), and Merck & Co., Inc. (US).
In 2017, GlaxoSmithKline plc dominated the vaccines market. The company has managed to create a unique identity in this market due to its robust product portfolio and large geographic presence. In addition, the company also focuses on organic and inorganic growth strategies such as collaborations and agreements. For instance, in July 2016, the company collaborated with the Vaccine Research Center at the National Institutes of Health (NIH) (US) to evaluate a new vaccine for Zika known as SAM (self-amplifying mRNA). The company also focuses on product approvals to increase its product offerings. For instance, GSK received approval for Shingrix (used for the prevention of shingles (herpes zoster) in people aged 50 years or older) in Canada in October 2017.
Merck & Co., Inc. (US) was the second-largest player in the global vaccines market in 2017. The company focuses on increasing investments in R&D activities to enhance its product offerings, and invested USD 10.2 billion in R&D activities in 2017. Merck also collaborated with Premier, Inc. (US) to focus on a preventive care model that seeks to improve adolescent and adult vaccination rates. The company has its business spread across 140 countries, covering regions, such as the Americas, Asia Pacific, Europe, and the Middle East.
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Based on technology, the market is segmented into conjugate vaccines, inactivated and subunit vaccines, live attenuated vaccines, recombinant vaccines, and toxoid vaccines. The conjugate vaccines segment is expected to register the highest CAGR during the forecast period. The high growth is attributed to the rising prevalence of infectious diseases and the increasing government investments for development of conjugate vaccines.
Based on type, the vaccine market is segmented into monovalent vaccines and multivalent vaccines. The monovalent vaccines segment is projected to register the highest CAGR during the forecast period. The increasing investment by companies to develop new monovalent vaccines is the key factor driving the growth of this segment.
Based on disease indication, the vaccines market is segmented into pneumococcal disease, influenza, DTP, hepatitis, human papillomavirus (HPV), rotavirus, meningococcal disease, MMR (measles, mumps, and rubella), varicella, polio, herpes zoster, dengue, and other disease indications. The meningococcal disease segment is expected to witness the highest growth during the forecast period. This is attributed to the high incidence of meningococcal diseases and increasing government investments in meningococcal vaccination programs.
Based on route of administration, the vaccines market is segmented into intramuscular and subcutaneous administration, oral administration, and other routes of administration. The intramuscular and subcutaneous administration segment is expected to register the highest rate during the forecast period. This mode of administration is associated with better immune response and a lower rate of injection site reactions.
Based on patient type, the vaccines market is segmented into pediatrics and adults. The adult segment is expected to witness the highest rate during the forecast period. The growth of this end-user segment for vaccines is likely to be driven by factors such as increasing research activities for the development of new adult vaccines and government initiatives for immunization.
Among the four regional segments covered in the vaccines market—North America, Europe, Asia, and the Rest of the World (RoW), Asia is expected to register the highest CAGR during the forecast period. The increasing investments by companies in India and China are supporting the growth of the vaccines market in Asia.
To ensure sustainability and growth in this highly competitive market, several established players focus on acquiring small players to strengthen their product offerings and expand their footprints across different geographies.
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